Sweden: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Sweden

The Swedish market for petroleum lubricating oil and grease dropped modestly to $X in 2023, remaining constant against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in Sweden

In value terms, petroleum lubricating oil and grease production shrank to $X in 2023 estimated in export price. In general, production saw a perceptible decline. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2023, production growth remained at a lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Sweden

In 2023, approx. X tons of petroleum lubricating oil and grease were exported from Sweden; dropping by X% against 2022 figures. Over the period under review, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease exports contracted to $X in 2023. In general, exports showed a pronounced decline. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Norway (X tons), Denmark (X tons) and Germany (X tons) were the main destinations of petroleum lubricating oil and grease exports from Sweden, together comprising X% of total exports. Finland, the Netherlands, Belgium, Lithuania, the United States, Poland, France and Italy lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Norway ($X) remains the key foreign market for petroleum lubricating oil and grease exports from Sweden, comprising X% of total exports. The second position in the ranking was held by Denmark ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Norway amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Germany (X% per year).

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2023, with an increase of X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Sweden

In 2023, after two years of growth, there was significant decline in purchases abroad of petroleum lubricating oil and grease, when their volume decreased by X% to X tons. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, petroleum lubricating oil and grease imports contracted to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2022, and then dropped in the following year.

Imports by Country

France (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Sweden, with a combined X% share of total imports. The Netherlands, Denmark, Italy, the UK, Finland and the Czech Republic lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Belgium ($X) constituted the largest petroleum lubricating oil and grease suppliers to Sweden, with a combined X% share of total imports. The Netherlands, Denmark, Italy, the UK, the Czech Republic and Finland lagged somewhat behind, together accounting for a further X%.

The Czech Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2023, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform